Ministry of Economic Development

Trade Policy Formulation
Trade policy formulation is mandated to Ministry of Economic Development. The trade policy of the country is formulated, in coordination and consultation with the relevant Government Ministries and in compliance with international obligations, agreements, treaties and conventions that Maldives is signatory to.
Labour and employment policy
Transport policy
Investment Promotion
Invest Maldives is the government agency entrusted with promoting, regulating and licensing foreign investments in the country. It is the first port of call for all foreigners keen on investing in the Maldives.
SME Development
The potential of the SME sector in creating a more resilient and diversified economy as well as creating more employment opportunities, particularly in the outer atolls is ever increasing. The Ministry envisages establishing the requisite institutional and organizational mechanisms to restructure and consolidate all SME Development activities in order to achieve economies of scale and efficiency of operations.
IPR
Invest Maldives is the government agency entrusted with promoting, regulating and licensing foreign investments in the country. It is the first port of call for all foreigners keen on investing in the Maldives.
Consumer Protections
The Consumer Protection Act enables the consumers to protect their basic rights in buying goods and services. It includes the right for basic product information such as price, product labeling, and terms and conditions in the sale of goods and services.
Standards
Standards make products and services more reliable and it helps to improve the organizational performance and minimize the risks. As the National Standards Body we work towards formulating national standards and adopting international standards to facilitate industry needs.

Publications
Publications
Laws and Regulations
Laws and Regulations
Policy Documents
Policy Documents
Forms
Forms
Annual Reports
Annual Reports

Regional

REGIONAL ARRANGEMENTS

We are signatories to the regional agreements, namely the South Asian Association for Regional Cooperation (SAARC) and Organization of Islamic Countries (OIC). The members of SAARC include Afghanistan Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka.

As a Member of both organizations, the government of Maldives has signed the following agreements and is in the process of implementing these agreements: Government of Maldives has established bilateral trade relations with several countries, for the promotion and development of trade and economic relations.

Maldives has signed bilateral agreements with the following countries:

Agreement Type	Regional
Agreement Name	Agreement on South Asian Free Trade Area (SAFTA)
Purpose	· To strengthen intra-SAARC economic corporation & to maximise the realization of the region’s potential for trade and development for the benefit of their people, in a spirit of mutual accommodation, with full respect for the principles of sovereign equality, independence and territorial integrity of all states, in line with the charter objective of promoting economic co-operation · Outlines 10-year schedule for trade liberalization, which aims at reducing and eliminating customs duties on cross border trade
Date Signed	6^th January 2004
Countries Involved	South Asian Association for Regional Cooperation (SAARC), Maldives, Nepal, India, Sri Lanka, Afghanistan, Bhutan
Status	Commenced on 1^st January 2006

Agreement Type	Regional
Agreement Name	SAARC Agreement on Trade in Services (SATIS)
Purpose	· To promote and enhance trade in services among the member countries, by establishing a framework for liberalizing and promoting trade in services within the region. · Signed during the 16^th SAARC Summit, Bhutan. · Member countries required to progressively liberalize their services sectors.
Date Signed	April 2010
Countries Involved	South Asian Association for Regional Cooperation (SAARC), Maldives, Nepal, India, Sri Lanka, Afghanistan, Bhutan

Agreement Type	Regional
Agreement Name	Agreement on the Establishment of South Asian Regional Standards Organization (SARSO)
Purpose	· To achieve and enhance coordination and cooperation in the fields of standardization and conformity assessment and develop harmonised standards for the region · To facilitate intra-regional trade and to facilitate better access to the global market · Signed during the 15^th SAARC Summit, Srilanka · South Asian Regional Standards Organization (SARSO) established; o For promotion of and undertaking harmonization of national standards of the SAARC Member States, with a view to removing the technical barriers to trade and facilitate flow of goods and services in the region. o To develop SAARC standards on the products of regional/sub-regional interest. o To encourage the use of international standards published by international organizations such as ISO, IEC, etc by way of adoption, where appropriate, as SAARC Standards. o To encourage exchange of information and expertise among the National Standards Bodies of the Member States in the fields of Standardization and Conformity Assessment. · To facilitate capacity building among the Member States in the fields of Standardization and Conformity Assessment, by way of training, workshops, seminars etc.
Date Signed	August 2008
Countries Involved	South Asian Association for Regional Cooperation (SAARC), Maldives, Nepal, India, Sri Lanka, Afghanistan, Bhutan

Agreement Type	Regional
Agreement Name	Framework Agreement on Trade Preferential Systems among the Member States of the Organization of Islamic Countries (TPS OIC):
Purpose	· It aims at promoting trade among member countries, through exchanging trade preferences on the basis of equal and in a non-discriminatory manner, taking into account, the Most Favoured Nation (MFN) principle. · The Framework Agreement on TPS-OIC is a basic document that sets up the general principles towards establishing a preferential trade system among the OIC Member States: o These preferences include tariff; para-tariff and non-tariff concessions, and other trade preferential treatments to all commodities, including agricultural and animal products, and manufactured and semi-manufactured products · adopted as per Resolution No.1 of the 6th Session of the COMCEC held in Istanbul, Turkey
Date Signed	October 1990
Countries Involved	Organization of Islamic Countries (OIC)
Status	Effective since October 2002, Ratified on 11^th April 2006

Ministry ofEconomic Development Republic of Maldives

Ministry of Economic Development

Business Services

Labor and Employment Servicess